Africa is home to a formidable collection of natural assets: 30% of the world’s mineral reserves, 12% of its oil reserves, and 8% of its natural gas. Add to that 40% of the global supply of gold and as much as 90% of the world’s chromium and platinum—plus the largest reserves of cobalt, diamonds, and uranium on the planet.^a

But while these resources could be engines of development throughout the continent, the United Nations Environment Programme notes that a “significant share of these resources” is “used unsustainably” or “lost through illegal activities,” with the result that “the stream of benefits generated from these resources is being reduced over time.” The UN agency estimates that each year, Africa loses $195 billion of its natural capital “through illicit financial flows, illegal mining, illegal logging, the illegal trade in wildlife, unregulated fishing and environmental degradation and loss.”^a